10-Year T-Note yields experienced a volatile session, opening near 4.25 before nudging higher on strong ADP employment and retail sales data. Yields then spiked north of 4.30 following headlines that U.S.-Iran peace talks had stalled. As negotiations reportedly resumed, yields retreated to close near 4.28, up approximately 3 bps on the day. This price action drove the CVOL index higher, reflecting increased market volatility. Traders are now looking ahead to Wednesday's 20-year auction and digesting the slightly hawkish tone from Kevin Warsh's Fed Chair nomination hearings in the Senate.